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Recharge Wrap-up: VW CEO mulls battery factory, voters approve $201B in transportation funding

Volkswagen Group CEO Matthias Muller says that it would "make sense" for the automaker to begin producing its own batteries. As the company moves toward electrification, Muller says it would be a smart move to build a battery factory. "If more than a quarter of our cars are to be electronic vehicles in the foreseeable future then we are going to need approximately 3 million batteries a year," he says. Volkswagen has agreed to cut 30,000 jobs in its restructuring, while committing to creating 9,000 jobs in Germany through battery manufacturing and mobility services. Read more at Automotive News Europe. Election results show a desire for transportation funding. Earlier this month, voters in 22 states approved ballot measures adding up to $201 billion in funding for transportation projects, according to the American Road & Transportation Builders Association. California passed 15 transportation measures, including one in Los Angeles worth $120 billion for roads, bridges, and transit. The state of Washington secured $54 billion for light rail and buses. Atlanta approved about $4 billion for road and transit projects. Illinois and New Jersey passed measures to prevent the diversion of transportation user fee revenue to other industries. Read more from ITS International. The US Department of Energy (DOE) must hand over confidential documents about Fisker's bankruptcy. A Delaware federal judge ordered the DOE to give the documents – which concern a presentation by Fisker to the DOE in which it falsely claimed to meet milestones set forth in a government loan – to lawyers in a case in which investors claim Fisker lied to them about financial troubles. While the DOE has given over documents already, they were incomplete and heavily redacted. "I understand that such disclosures may have a negative impact on future DOE analyses," says US District Judge Sue Robinson. "but conclude nonetheless that under the circumstances at bar – the public money at stake, the Congressional hearings, and the fact that Fisker Automotive is now a defunct company – the balance of interests favors plaintiffs." Read more at Law360. Related Gallery Volkswagen I.D.

Volkswagen Golf R 400 Concept still makes us swoon

We know, we know – this hot little guy isn't really new or anything. Volkswagen first rolled out the Golf R 400 concept in Beijing earlier this year, and since its debut, we've heard rumors that the German automaker might-perhaps-maybe-hopefully build the thing. Its showing here in Los Angeles simply marks the first time it's debuting in America, and honestly, we can't get enough. So here it is, again. Hello, Golf R 400 – we love you. And what's not to love? What starts as a normal Golf R gets better with a more aggressive appearance, big wheels, some tasteful neon yellow accents, and a whole mess of power. The original concept packed 395 horsepower from an overblown 2.0-liter turbo-four, though the most recent reports suggest a production version could produce over 400 hp. To keep it all in line, the concept has all-wheel drive. And inside, it's the same functional, comfortable Golf we've always loved. There's nothing left to say, really. We love this car, and you should, too. Check it out in the gallery above.

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.